The announcement stated:
Company is targeting mezzanine debt of between US$70 and US$120 million, which modelling demonstrates the Project can support.
This is not convertible debt. Just a loan.
In addition to the mezzanine debt market, there is also interest in financing from the convertible bond market.
This is convertible debt.
While not ruling it out, this very brief one liner in the context of the overall announcement detail, gives me the impression that it is near or at the bottom of the financing options list. Almost just there for completeness.
In my experience convertible notes tend to be sought out by riskier projects, often with the negatives DoctorFouad touched on.
If by some chance they do form part of the final financing I think we would get very good terms.
Ann: Altech Advances Final Stage of Project Financing, page-18
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